Society

Micron Technology injects $300m in Xi'an hi-tech zone

By Ma Lie (chinadaily.com.cn)
Updated: 2010-02-04 19:58

XI'AN: Micron Technology, Inc., the world's second-largest memory chip producer based in the United States, put $300 million of additional investment in Xi'an, capital of Shaanxi province, after it had invested $250 million in the city in 2005.

The largest foreign investment to the city at the beginning of 2010 is planned to develop a semiconductor test project in the Xi'an Hi-tech Industry and Development zone, one of the top such zones in China.

Jay Hawkins, Micron's vice president, said that Xi'an has become an important venue for Micron's global strategic development.

The success of investment in Xi'an, the great investment environment and service in the zone strengthened Micron's confidence to further invest in the city, Hawkins said at a ceremony for the $300 million project Tuesday evening.

Micron was attracted to Xi'an for its concentration of talented people in the Hi-tech Zone, where there are thousands of people well trained for semiconductor integrated circuit research and development.

The original $250 million project signed by Micron and Xi'an Hi-tech zone put into operation in March, 2007. Its annual export value reached $617 million in 2009 and will reeach $1 billion in 2010, according to the hi-tech zone administration.

According to Yue Huafeng, director of Xi'an's hi-tech zone, Micron's $250 million project provided jobs for 1,000 local people.

"The new $300 million project will play an active role in promoting the semiconductor industry chain and further development in our zone and our city. It will provide new job chances for 3,000 people and its annual exports will research $5 billion after the project is completed three years later," Yue said.